Why Jim Cramer Likes Uber's Approach to Delivery

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Uber  (UBER) - Get Report posted earnings on Wednesday night. 

Uber said the delivery business bookings more than doubled (up 130%) to $10.05 billion, largely offsetting a decline of 50% in its ride-hailing business compared with the year-earlier period.

Uber said its net loss per share attributable to holders was 54 cents vs. 64 cents a year earlier. Analysts had been expecting a loss of 53 cents a share, based on a FactSet survey. 

"While 2020 certainly tested our resilience, it also dramatically accelerated our capabilities in local commerce, with our delivery business more than doubling over the year to a nearly $44 billion annual bookings run-rate in December," Chief Executive Dara Khosrowshahi said in a statement.

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